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China has released its 70-city new home price data for April and all of those stimulus efforts have finally borne some fruit with year on year price falls no longer getting worse, flat at -6.1% on the month:
Month-on-month price movements show much of the market will now have rising prices:
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Indeed 23 of 70 cities do have rising prices, versus 21 in March:
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.